Which of the following is wrong statement about oxymercuration-demercuration ?

In the second step demercuration occurs, i.e., ${\mathrm{NaBH}}_4$ reduces - $\mathrm{HgOAc}$ group to hydrogen

The net reaction is addition of water according to Markownikoff's rule

Rearrangement takes place

In the first step oxymercuration occurs, i.e., water and $\mathrm{Hg}{\left(\mathrm{OAc}\right)}_2$ add to double bond.